Parvin Asset Management LLC Buys New Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

Parvin Asset Management LLC bought a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, Holdings Channel reports. The firm bought 7,975 shares of the company’s stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPC. Xponance Inc. raised its holdings in Pilgrim’s Pride by 3.7% in the 4th quarter. Xponance Inc. now owns 6,307 shares of the company’s stock valued at $286,000 after acquiring an additional 225 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Pilgrim’s Pride by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,207 shares of the company’s stock worth $327,000 after buying an additional 371 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Pilgrim’s Pride by 3.2% in the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company’s stock worth $864,000 after buying an additional 585 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Pilgrim’s Pride by 19.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company’s stock worth $165,000 after buying an additional 593 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Pilgrim’s Pride by 31.9% in the 4th quarter. GAMMA Investing LLC now owns 2,688 shares of the company’s stock worth $122,000 after buying an additional 650 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PPC. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Santander began coverage on Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets raised their price target on Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, March 17th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.40.

Pilgrim’s Pride Trading Up 1.3 %

PPC stock opened at $53.98 on Wednesday. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 11.84 and a beta of 0.63. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The business has a fifty day moving average price of $52.59 and a 200 day moving average price of $50.03. Pilgrim’s Pride Co. has a fifty-two week low of $33.67 and a fifty-two week high of $57.16.

Pilgrim’s Pride Increases Dividend

The company also recently disclosed a special dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were given a $6.30 dividend. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75. The ex-dividend date of this dividend was Thursday, April 3rd.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.